Looks like SPY might be entering into a upwards channel but...

2 May 2019

So this is the 3rd time the SPY is touching resistance a long our top line here. From here i see 2 lines of support it could attempt to make a bull flag on, and continue its way up. If both of those 2 blue lines fail we could see the SPY coming back down to 265-270 and forming the upwards channel. Currently would be a good point to open a short or put option !